Saturday, October 17, 2009

Michael Moore schools Maria Bartiromo on capitalism.

It really says something about the complete collapse of Reaganism and Reagonomics that even Joe Scarborough can no longer bring himself to publicly defend it and it's emphasis on deregulation. And yet that is where we now find ourselves.

And Michael Moore does a masterly job of explaining what is wrong with capitalism in it's present form.

Moore: Oh! It’s so incredible. Yes. Fifteen million people out of work.

Scarborough: Isn’t this a perfect example for you? Isn’t this a great example of what you’re trying to say? How there’s a disconnect between what’s going on on Wall Street, 10,000, and Main Street, 10% unemployment?

Moore: Oh, it’s not a disconnect. It’s connected very well. It’s connected just the way our economic system is set up. It’s set up so that the pyramid scheme that we call capitalism—it’s become a pyramid scheme now—the very few at the top get away like bandits making billions and billions of dollars. And everybody else in the lower parts of the pyramid are told to work really hard and maybe some day they can come up and be on top of the pyramid too. Well guess what? There’s only a few people that can sit on top of the pyramid and it’s just so revolting and so immoral when we live in a country—the wealthiest country on earth—fifteen million people unemployed. One in every eight homes right now is in foreclosure or delinquency. And they’re celebrating on Wall Street? And they’re paying each other bonuses?
Maria Bartiromo tries to undermine Moore's point but he basically steamrollers her out of the way.

She should have known that, when Joe Scarborough can no longer defend it, you're on the losing side of an argument.

Hat tip to Crooks and Liars.

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